Even after 2020's struggles, the retail real estate industry is optimistic about recovery and the future of stores and shopping centers, according to a new ICSC survey of retailers and commercial real estate companies.

Though the pandemic led to sharp declines in foot traffic, 60% of CRE leaders and 55% of retailers expect a return to pre-pandemic levels by the end of the year.

If anything, the pandemic forced retailers to innovate in both offerings and store formats. A large amount, two-thirds of respondents, began offering in-store fulfillment of online orders during the pandemic. Seventy-three percent of small retailers implemented a click-and-collect option, while 88% of shopping centers are being used to fulfill online orders, according to CRE leaders, according to ICSC. Almost all respondents (99%) indicated that their stores fulfilled online orders in some form or fashion.